Cairo Festival City Mall (CFCM) and Premium Card have partnered to create a new joint venture to offer the center’s shoppers an innovative payment-on-installment program, with zero interest, which is set to kick off in mid-August, Invest-Gate reports.
The new facility card, called “Celebrate Flexibility Card,” is specifically tailored for CFCM’s visitors and customers to meet their buy-now-pay-later plans, “aiming to offer the best of both worlds” with its bank-free installment payment options, according to the company’s recent press release.
“Under this agreement, Premium Card will deploy a state-of-the-art Fintech solution to provide an ‘on the spot’ pre-approval to the positively scored clients, during their visit to the mall; before receiving their final co-branded Premium Card with the optimum approved limit,” read the statement.
Besides, cardholders will get instant scoring and approval, along with quality assurance and guaranteed safe data, therefore a hassle-free, paper-less shopping experience.
Speaking of the innovative move, CFCM General Manager Hayssam Hajjar pointed out, “We worked on deploying technology to introduce new services to the Egyptian market. Aside from being keener on accessibility and flexibility, shoppers currently champion smart payment methods that involve easier payment terms and less physical contact.”
“To us, being the first mall in Egypt launching this type of program is further proof that we are focused on providing the best experience to our customers at all phases during the journey. Meanwhile, on-boarding new customers is an area that we intend to significantly improve with this new offering,” Hajjar continued.
On his part, Rami Antaki, board member and co-founder of Premium Card, commented, “Capitalizing on the 25 mn annual visitors of CFCM, Premium Card will expand its vendors’ network and client base to nurture sales growth. With ‘Celebrate Flexibility Card,’ CFCM clients will have access to the unique zero percent interest installment program of Premium Card to shop across the fantastic range of stores in the mall.”
Established in 2013, and located in New Cairo, CFCM is developed over 160,000 square meters of gross leasable area, comprising more than 300 commercial/retail stores and 95 dining outlets, anchored by the 10,755-square-meter Carrefour hypermarket and two department stores, all served by 7,000 parking lots.